Economy / Markets
The Fed is expected to sit still while pricing a December hike
The FOMC meets on 27-28 October with the funds rate at 3.75%-4.00%, and 94 of 100 economists polled by Reuters expect no change after September's quarter-point increase. All 100 expect a hike in December, a reversal from last month's survey, and nearly 60% see the peak at 4.00%-4.25%. The decision lands in the same week as the first estimate of third-quarter growth and the September core PCE reading, with megacap earnings the following evenings.